Meyer was previously a partner at Panera Brand’s parent company, JAB Holding Company, and brings ‘extensive industry experience’ to the US fast-casual group
Photo credit: Panera Brands
Panera Brands has appointed Konrad Meyer as its new Chief Financial Officer. Meyer takes on the role from Ted Stedem, who is stepping down to pursue other interests.
Meyer was previously a partner at JAB Holding Company, where he worked to source and oversee the Luxembourg-headquartered conglomerate’s investments, including its fast-casual restaurant portfolio.
He also served as interim CFO of UK food-to-go and coffee chain Pret a Manger, which was acquired by JAB
“Ted has been an outstanding colleague and partner, and we are grateful for his many contributions over the last three years as Panera has continued to thrive and grow,” said Niren Chaudhary, CEO, Panera Brands and Panera Bread.
“Konrad is a trusted partner and a friend who has extensive industry experience, including numerous financial and investment leadership positions, as well as a deep familiarity with Panera, which will make him a valuable member of our management team as we continue to execute our strategy and build on our leading portfolio of brands,” Chaudhary added.
Panera Brands was formed in August 2021 when JAB Holding Company created a new 4,000-outlet fast-casual group comprised of its Panera Bread, Caribou Coffee and Einstein Bros. Bagels coffee chains.
In June Panera Brands ended a partnership
with hospitality investor USHG Acquisition Corp (HUGS), first announced in November 2021
, a move which postponed the group’s anticipated IPO.
Panera Brands CEO Niren Chaudhary said the decision was taken following “the deterioration of capital market conditions over the last several months.”